Books

Ladies and gentlemen, it’s obvious (to anyone who knows there’s no free lunch) that one way or another this Festival of Funny Money was going to end in tears. And so it flows… but let’s not forget what lead us to this, the problem that lies under all others.

The government can print (base) money from nothing, and they can set interest rates artificially low so as to encourage private banks to create (bank) money from nothing. And governments keep doing it, because it’s so much easier to be elected handing out loaves and fishes, and grants and solar-rooftop-subsidies, in a froth of easy money and rising asset prices. Any fool can spend someone else’s money, especially when the sucker doesn’t even know it was their money.

Thus does inflation steal from all and sundry. Silently.

Watch them print money… say hello to inflation.

In the real world, we have to repay our debts. But the world of the ruling class never has to make ends meet. Alan Greenspan admitted that this weekend — effectively announcing that the US is the United States of Wonderland, where no matter how high the debt is they can never default — because [...]

There are people out there who manufacture money from nothing. Literally. The rest of the world has to earn it, but some are in it from the start–where money is created from the ether.

Banking is not a secret but no one tells you how it works… it’s hard to get your head around it, but if everyone understood, some aspects would be outlawed tomorrow (just like they used to be).

Greens and bankers make strange bedfellows. The bankers know where the Greens are coming from, but the Greens need to find out why bankers, “the paper aristocracy”, are so keen to save the planet. It’s an unholy alliance.